M&A - FORUM ENERGY TECHNOLOGIES, INC.

Form Type: DEF 14A

Filing Date: 2025-03-28

Corporate Action: Acquisition

Type: New

Accession Number: 000140125725000047

Filing Summary: Forum Energy Technologies, Inc. is preparing for its annual meeting of stockholders scheduled on May 9, 2025. The company reports significant progress in 2024, highlighted by its acquisition of Variperm Energy Services, which improved financial performance including a 49% increase in adjusted EBITDA and a substantial rise in operating cash flow, reaching $92 million. The company has also refinanced its long-term debt with a $100 million bond offering to enhance liquidity and cash deployment flexibility, resulting in a leverage ratio of 1.49. Additionally, a $75 million share repurchase program was initiated, reaffirming the company’s strong cash flow management and commitment to shareholder returns. The annual meeting will address multiple proposals including the election of directors, advisory votes on executive compensation, and amendments to the company's compensation and incorporation documents. The board of directors recommends approval for all proposals listed, with a record date set for March 14, 2025, for voting eligibility.

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Form Type: PRE 14A

Filing Date: 2025-03-18

Corporate Action: Acquisition

Type: New

Accession Number: 000140125725000044

Filing Summary: Forum Energy Technologies, Inc. (FET) has made significant advancements during 2024, primarily attributed to its acquisition of Variperm Energy Services. This acquisition has notably improved FET's financial standing, with a reported 49% increase in adjusted EBITDA, enhanced EBITDA margins to 12%, and a substantial increase in operating cash flow to $92 million. Over the past three years, FET has experienced a 51% revenue growth and a 19% market share increase. Additionally, the company undertook a $100 million senior secured bond offering to refinance long-term debt, further enhancing liquidity and cash deployment flexibility. A $75 million share repurchase program was announced, reflecting confidence in generating steady free cash flow. The annual meeting of stockholders is scheduled for May 9, 2025, with several proposals, including the election of directors and amendments to stock incentive plans and shared capital. Personally, CEO C. Christopher Gaut will retire at the end of his term, marking a significant leadership transition.

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